Northwestern Mutual Investment Management Company LLC reduced its stake in shares of HP Inc. (NYSE:HPQ) by 80.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,263 shares of the computer maker’s stock after selling 277,041 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in HP were worth $819,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of HPQ. Boston Partners lifted its position in shares of HP by 304.9% during the 2nd quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP during the 1st quarter valued at about $79,108,000. Renaissance Technologies LLC purchased a new position in shares of HP during the 1st quarter valued at about $62,824,000. Morgan Stanley lifted its position in shares of HP by 69.4% during the 1st quarter. Morgan Stanley now owns 7,333,354 shares of the computer maker’s stock valued at $131,121,000 after buying an additional 3,003,129 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of HP by 35.0% during the 2nd quarter. Prudential Financial Inc. now owns 11,456,195 shares of the computer maker’s stock valued at $200,254,000 after buying an additional 2,970,120 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently issued reports on HPQ. UBS AG reissued a “buy” rating and set a $22.00 target price (up previously from $20.00) on shares of HP in a research note on Thursday, May 25th. Susquehanna Bancshares Inc reissued a “hold” rating and set a $20.00 target price on shares of HP in a research note on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $20.00 target price (up previously from $19.00) on shares of HP in a research note on Tuesday, September 5th. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. Finally, BidaskClub downgraded HP from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.57.
In other news, insider Marie Myers sold 11,752 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $19.25, for a total transaction of $226,226.00. Following the transaction, the insider now owns 11,752 shares in the company, valued at approximately $226,226. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Margaret C. Whitman sold 443,920 shares of HP stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $19.32, for a total transaction of $8,576,534.40. Following the sale, the director now owns 692,849 shares in the company, valued at $13,385,842.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,725,567 shares of company stock worth $32,210,686 in the last 90 days. 0.62% of the stock is owned by insiders.
Shares of HP Inc. (NYSE HPQ) traded up 0.05% during trading on Friday, reaching $19.47. The company had a trading volume of 12,790,686 shares. The stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of 14.15 and a beta of 1.93. The stock has a 50 day moving average of $19.16 and a 200 day moving average of $18.40. HP Inc. has a 52-week low of $13.77 and a 52-week high of $19.78.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The business had revenue of $13.06 billion for the quarter, compared to analyst estimates of $12.31 billion. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post $1.65 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is currently 38.41%.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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